knowledge topics
Change Process
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Define the elements of change.†
- Pre-contemplation (denial or ignorance of need to change; not thinking about change)
- Contemplation (ambivalence towards, considering change)
- Preparation / Planning (identifying goals related to change, preparing plan of action)
- Action (implementing the steps to achieve change)
- Maintenance (maintain new behaviour or action)
- Termination / Relapse (reverting to previous behaviour or action; gaining insight)
- Identify the components that may be a part of planning for change, such as:
- Goals for change
- Motivation to change
- Tasks required to achieve change
- Potential obstacles that may prevent change
- Measures of success
- Identify that a financial planner may act as a facilitator of change by helping an individual progress through the process of change.
- Identify the steps that a financial planner may engage in when facilitating the change process with an individual.††
- Get to the behaviour
- Support the behavioural change
- Sustain the behavioural change
- Identify that a financial planner may facilitate the change process based on an understanding of relationships.†††
† Financial planning professionals should be aware of a model for change to help influence individuals to accept recommendations that would allow them to progress towards their goals. An understanding of the reasons for resistance and the link between motivation and behaviour is essential for financial planners.
†† The steps to facilitating change are presented as one model that financial planners may use to help assist an individual through the change process. Further information on this model may be found at the Behaviour Change Institute. http://www.behaviourchangeinstitute.ca/WELCOME.html
††† Financial planning professionals will need three main groups of skills to facilitate the change process. Further information on these skills may be found at the Behaviour Change Institute. http://www.behaviourchangeinstitute.ca/WELCOME.html
Glossary of Verbs (mouse over to see definition)
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a judgement through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
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